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's looming tax and spending cuts commonly known as the fiscal cliff. despite a call between president obama and john boehner, the two sides appear to be no closer to a compromise. are republicans working on the scenes on a plan b? wall street journal columnist, dan henninger and kim strassel. you have bean working the phones, is there something going on between speaker boehner and the president? >> no, i think that they are nowhere and it's because the president is refusing to budge at all on the top toks ratestopx rates and we'll go off the cliff if the republicans don't acreed to that demand. so we're still at a stand still. >> paul: kim, why is the president so insistent on increasing tax rates? boehner has already put on the table a comparable amount of money to be gained from putting a cap on deductions, about 800 billion over ten years, so such a-- >> look, paul, two reasons. first is ideological. his partisans, his liberal base believe this is somehow a symbol of winning the tax fight and you can only do that by raising the rates on the wealthy in the country and they're insistent on
this is one of thespects of obama care and the tax inplications that businesses have to dole th. i have gone through these things it is mint. you need a stack of accountants to understand this stuff. >> ceo's work for shareholders. i thinkn this case speaking out against obama care which is a substantial costs that weigh on profits is something they should do. it is proprofit to talk about a law to let the nation know and lawmakers know wha will cut in profits and so in this case, i think they should speak out. i question whether lower sales are relate to oba care. >> that's what they a saying. the hit they took from the press about critizing obama re led to people not frequenting their restaurants. john and i could mike a point of buying humus from whole food because we support the libitarian views of the chairman. but there is it the guy who applied the pizza topping voted republican once. let's boycott it it cuts both ways. >> by the way morgan, it is not only olive garden but papa john. >> bad press is bad for business. the ceo came out and said obama care would lead to 14 cents more per
staying in place. president obama has called that a nonstart e. so, what happens if we do raise taxes a little bit? rates will still be much lower than what americans paid just a generation ago. in 1980, americans paid 70% of their income to uncle sam. tax reform under reagan reduced that to 50% in 1981 and closer to current levels in 1986. president obama wants the tax cuts to expire for the wealthy only, kicking up their rate to 39.6%. a 4.6% uptick for households making more than $250,000 a year only on every dollar they make above $250,000, it's why it's called the marginal tax rate. only on the money you make on the margin. steven moore is ready to jump out of his skin after i just said what i said. david k. johnson is a pulitzer prize winning journalist. his latest big, how big companies use plain english to rob you blind. steven, while i agree that every penny counts when it comes to your own money, when you compare the taxes most americans paid out in past decades, i don't get why republicans are screaming bloody murder about this. what would be so bad with the wealthest chipp
as the tax collectors of the welfare state. >> has president obama's position hardened over the past few days. >> i don't know. i am just thinking how sweet it is what pat just sate. i agreed with everything you just said. i think it is always dangerous to be complacent that there is going to be a deal, given the stakes and the hardened political line, but ever since the speaker put revenue on the table, the republicans have been breaking rank, and i think they really don't want to go down protecting the tax breaks for millionaires and billionaires. and you do see the beginnings of a deal. they will probably drag it out a bit longer, because each side wants to show their base that they're fighting very hard. but i think reasonableness may descend on washington and it is something that we should all applaud. >> ryan grim, do you think we will have reasonable connection on this? >> i don't think so. there was another meeting on thursday, and the white house made it very clear that they're not giving much. the white house feels very burned by the 2011 debt ceiling negotiations. they feel like th
for accommodations to president obama, allow a tax hike up to 37%, only for millionaires, and obama has a pretty extreme position, a tax hike of 4% on every family making over $250,000, there are a lot of upper middle class families who don't think they are wealthy, paying college tuition and making more than $250,000 and less than $750,000 or a main amillion and there is a tax increase on obamacare, and a 3% surcharge on investment money and republicans can say, best case, no tax increase, and we'll give you a responsible, modest increase, so you can satisfy yourself, president obama, increasing taxes a little bit on millionaires, and not families making $250,000 a year and he'd have to accept and that republicans will save a lot of families from a worse tax increase and you can have a spending and entitlement fight where republicans have plenty of leverage and will be a debt ceiling issue and continuing resolution for funding the government and it is not -- >> kirsten, you seem singularly unimpressed. >> as she so often is, i have to say. >> the deal that seems to be on the table, floated righ
. and if that's true, i will end up laying off people. >> hudson is also concerned about taxes. because it's profits are treated as income, that puts them over 250,000 a year. the level where president obama wants taxes to go up. >> i'm supposedly a risk guy. i don't think so. i think we ought to pay our share. but that could have a significant impact to the point that i may have to lay off one or two more people. >> the financial impact of the affordable health care act is also a question mark as the plan slowly phases in. >> i believe in families and support and the employeesment but again it's a big unknown. we have looked at whether it might just be beneficial to cancel insurance and pay the penalties. >> like any military man, hudson is running every scenario to stay in business. >> it's really sad, isn't it? >> and we've got to fight our own system to survive. >> an attitude shared by many small entrepreneurs as they wait and watch. >> randall pinkston, cbs news, new york. >> jeff: back overseas south africa's former president nelson mandela remains in the hospital tonight. and as ma
the debt ceiling and the g.o.p. says no. number two, obama wants $1.6 trillion, eleanor, in new tax, the g.o.p. says $800 billion. number three, obama wants spending cuts deferred. g.o.p. wants specific cuts agreed to now. number four, g.o.p. wants wide entitlement cuts. obama says no. i will give you another one. number five, obama wants new stimulus money, the g.o.p. says no. >> okay, which one, what do you want me to address? >> i want to know whether those are all resolvable before the new year? >> yes, this re resolvable. on the debt limit, it was a republican idea when president bush was in the power to raise the debt limit, which is to pay bills that have already been accrued, and that the congress could override it. the congress could object. and mitch mcconnell put that bill forward on the floor this week, thinking he was going to embarrass democratic leader reed, and reed said let's go ahead and vote. it and so then mcconnell filibustered his own bill because he got afraid the democrats had the votes for it. so that's the kind of maneuvering that is going on. childish. >> yes, ch
're not president obama. they've been willing to say we're willing to raise the tax rates all the way up to the clinton rate, 39.6%. can you give us some specifics of things you would consider cutting in terms of social programs and in terms of entitlement reform? >> the bottom line, chris, is that would be negotiating against ourselves. president obama agreed -- >> isn't that what they just did? >> no. the bottom line is democrats, led by our president almost uniformly say here's our first 1.2 trillion of getting to the 4 trillion. revenues. it's up to the republican leadership prodded correctly and boldly by senator corker and others to say they'll go along with this and then we'll negotiating on the other side. it makes no sense to negotiate against ourselves? do you buy that, senator corker? >> look, chris. we have to have a $4.4 trillion solution. i know senator schumer, i've talked with him numbers of times. he knows what we need to do and most republicans and democrats do. i think it's time for the president, he knows that there's a growing body of folks willing to look at the rat
satisfy yourself, president obama, that we're increasing taxes on millionaires, not families making $60,000 a year. republicans would save families from a worse tax increase then you can have spending and entitlements fights next year. there will be a debt ceiling issue, still the continuing resolution for funding the government. it's not as if everything's' solved this month. >> kirsten? you seem similarly unimpressed by the scenario. >> as she so often i say, i have to say. >> the deal that seems to be on the table is the 37% rate. >> chris: let's -- the top tax rate is 35%. if the bush tax cuts lapse it goes to 39.6%, the rate under bill clinton. some say go to 37%. >> that's the deal that obama says he would come down to, 37. the republicans say raise medicare eligibility. the left is completing freaking out over raising medicare eligibility and the right is freaking out about the tax rates. so they have to decide. the administration is clear that the tax rates have to go up. obama has given in on this before and so there's pressure on him. there's a lot of pressure on house democra
taxes. >>> president obama has outlined what corporations can do to help the nation celebrate his inaugural in january. while taxes pay for the swearingin, festivities are privately funded new hampshire 2009 mr. obama refused corporate donations and he is now accepting them in packages up to $1 million. . >>> former south of canpresident nelson mandela was admitted to a hospital. current president of south africa says there was no cause for alarm by the4-year-old's health. mandela spent 27 years in prison for fighting fighting apartheid in south africa. >>> two dozen teens work on ideas at castro library this afternoon. >> it's really interesting ideas at inspection and around places like parks. >>> the winning app is called book it and would allow users to reserve materials remotely. >> congratulations to them. >>> a crayfish cook is on the loose in lake tahoe. >> the family of the nurse who apparently took her own life after the prank and what the radio station is saying. >>> and in weather a few high clouds moving across the bay area. coming up the temperature change you can
is going to blink? president obama says he wants the tax hikes to go up on the wealthy. >> we both better get together and come up with a solution. that's what the american family wants. all the other issues, we have to remember, it's what takes place, not at the 30,000 foot level, but at the kitchen table level. that's where the people are very concerned. will they have a job tomorrow? will their children have a job in the future? that means we have to deal with the deficit and the spending. we cannot continue to do this. the president's issue of unlimited power to raise the deficit, whenever he wants is like taking the brakes off the car and hitting the accelerator as we are head to the cliff. the republicans have offer someday things to deal with the revenue. the president has. these are the discussions that go on and on. we have to solve that. >> eric: overall, the deficit, the spending, $16 trillion, it goes up and up and and up. it affects us, our children, our grandchildren. what do you see, realistically, happening? is there any way that the spending can be slowed down without may
americans, too, get a tax cut. the obama administration is happening what happens for the aying american families. we have congressman randy forbes. >> let me ask you something. do you feel like a president actually wants this to happen so that it gives him some political ad vantage? >> i have to judge that by two things. first of all what i am hearing from my colleagues on the democratic leadership side they said they wanted to go over the fiscal cliff because we have argued all along they will start by simply taxing everybody over 250,000. they told me they wouldn vote fr anything that would tax everybody over 150,000. you take the president's actions. the president doesn't want to get an agreement or compromise he wants to get his way. he won't come to the table with any serious proposal because we can get a solution everybody can live with. >>> they have a bit of a messaging problem. i don't understand why there's not more of a conversation that starts with the fact these taxes go up. democrats would not extend what has been a republican proposal to keep them low. they are in place n
? >> president obama is making the rounds. he is going to help us out by increasing our taxes. the only way we can beat governor is by investing in equipment. if the wage rates are lower in china and steel costs the same electricity costs the same the only way i can make business is to have better gimeequipment ane only way to have better equipment is to continually investment the only way to continually invest is make a profit. we are unable to invest in equipment capital accumulation increases wage growth decreases. >> there are a lot of big businesses that do okay. ge didn't pay any taxes at all. really big corporations are finding ways to be multi national. they can get accountants and lawyers to help circumvent the complexities of the tax code. as a small business operator do you get to do those things? >> when president obama came to hatfield, pennsylvania which is a few miles down the street about a week ago he was covered by all of the press as it should be. the rooep i am on your show is we tried to have a similar event showing how it would not be effective. there was almost no one at
% to 25%. the long-term consequences of president obama's tax policies would have a profound and negative affect. capital stock would fall. fewer jobs and lower wages resulting in higher taxes would harm the middle class. data reveals three important facts of high income earners. the taxes on the wealthy raise as much faster than on everyone else during economic booms, but they also fall much faster during economic bust. people report more income when tax rates are low and not when they are high. there are better ways to increase federal revenues than hiking tax rates. congress could enact a program of tax reform that would lower rates and eliminate interest reductions. the president could open up more federal lands and offshore areas for energy exploration. his administration could take a more balanced approach to new regulations. economic growth can help solve our fiscal problems if the economy had grown at the percentage as it has done in the past. the treasury could have collected an additional 650 billion dollars in fiscal year 2012. the deficit that would have fallen. still bad, but
: appreciate it. edward tweeted us to say for s years, six years, obama said the bush tax cuts are bad, drop bush's name, and, now, the tax cuts are good. how can this be? it's interesting, isn't it? that's all for us. have a great weekend. we'll see you monday. good night from new he said the. 40 years back. what are we now? 9:00 p.m. sunday. fox news. relive the dream dream again. >> the federal government will conduct a national test of the emergen alert system. >> you cannot avoid it. it is everywhere. john: does it make you feel safe the government spent 40 years studying the assault assault -- soap. do we need government to protect workers? >> absolutely. next? -- question. [laughter] >> good intentions and gone wrong. that is e show. tonight. john: politians claimed they make life better to pass laws. they have good intentions but we should not judge by intention. politicians good intentions go wrong. work regulation. companies are not greedy they don't care about their workers but seems reasonable government has tprotect them. almost everybody agrees. >> they should be protected. def
. house speaker john boehner is taking heat from all sides, president obama is ripping him for tax hike refusal on those making $250,000 or more a year and the republicans are criticizing him for not pushing back enough. >> reporter: staving off the conservative rebellion, john jon boehner's proposal to steer clear the fiscal cliff, by closing loopholes in taxes has outraged anti-tax conservatives and when he removed conservatives from the key bathses of the past. >> $800 billion in 10 years that, looks like a tax increase. 238 republicans, including me, took a pledge not to raise taxes. >> they want to send a message to me, to send a message to others that we are not going to tolerate people who are interested in doing what's right, we want to play the same game. if you try to disrupt that, we will knock you off a committee. >> reporter: conservatives were tossed off the house budget committee and others were bounce from the financial services committee. benching conservatives have boehner under fire from conservative group, including the heritage foundation, red state dot-com, freedom
out our children right now with these massive tax increases, and that's his starting bid. he is saying here is $800 billion, now will you sit down with, us a obama? >> hashtags with names like fire boehner have become popular. still, where the votes get counting, boehner seems to have more room to maneuver than he did in preelection faceoffs. but it begs the question, even if the republican speaker gets a deal, can he get it passed? joining me now is tom cole of oklahoma, martha blackburn of tennessee, thank you both for joining us, and i think that's really the key question that we keep hearing. they'll get a deal -- they'll get something. but it doesn't matter if the two of them get a deal, it matters if the speaker has the house votes for it. tell me about the feeling in the caucus now for how free of a hand the speaker has. >> i think people are looking at how do we solve the system-wide problems. if you're going to talk revenues, you have to talk cuts, reform of your trust funds, medicare and social security -- >> you have 20 something days to do that. >> these are things that we
the 50% of the vote in november. >>> obama is taking his message of middle class tax cuts on the road. he tomorrow he'll tour a diesel engine shop. >>> have you every fallen asleep while watching tv only to be blasted awake by a loud ad. >> wow! that's a low price! >> i know! >> weeeee! >> starting thursday, the commercial advertisement loudness mitigation act, better known as calm goes into effect. the law which congress passed in 2010, bans ads from being louder than the tv program their interrupting. >>> we'll talk about that presidential trip to michigan and what he'll say about the large show showdown there after these not so large commercials. [ male announcer ] break the grip of back or arthritis pain with odor free aspercreme. powerful medicine relieves pain fast, with no odor. so all you notice is relief. aspercreme. >>> we are back with steven moore and jackie calms, michigan in this sort of methodic, at least in terms of the political times right now t electric chur passes a right to work law in michigan, kind of at least one of the cradles of the union and it would mean that y
of a compromise that may or may not be in the works. an increase in the top marginal tax rate, short of what obama has been asking for, but still an increase and changes to medicare with the eligibility age in exchange for that on the democratic side. we were talking about, from the democratic standpoint, the medicare issue. i want to talk about the rate issue. there can't be a deal, unless republicans, even on these terms can't be a deal unless republicans go along with increasing the tax rate. there hasn't been a single republican willing to vote to increase tax rates. i want to bring in a former member of mitt romney's health care advisory group. blog on forbes health care. i want to ask you about that piece of it. we have been talking about this potential deal of 37% of the top marginal tax rate. do you see a scenario where republicans would vote for that in congress? >> well, first of all, i have to respond to this interesting hyperbole about medicare death sentence. if you raise the retirement age for medicare, we have the affordable care act as the backstop. everybody is still poverty level
more like president obama could get his way on tax hikes for the wealthy. he met behind closed doors with house speaker john boehner at the white house this afternoon. no word yet on what came out of those talks, but an increasing number of congressional republicans are indicating they'll accept a tax -- >> we have spent all this time talking about revenue, but as we watched our government continue to spend more. this is really about spending. >> will i accept a tax increase as a part of a deal to actually solve our problems? yes. >> across the board tax hikes and spending cuts will automatically kick in if the white house and congress continueeach a deal now in 22 days. >>> dallas cowboys player remains behind bars tonight after a deadly crash that killed a teammate. defensive lineman josh brent is being held on half a million dollars bond. his lawyer called that excessive. police say brent was driving drunk when he crashed his car in the dallas suburb of irving yesterday. tem me teammate jerry brown died in the crash. a moment of silence was held for brown before today's game. >>>
obama troubles monday to an auto plant in michigan to merge congress to extend tax breaks for 998% of americans.
tax. they have had a great deal. president obama said that up for them. -- president bush set that up for them. we ask the wealthy to pay for their fair share. what we had was economic prosperity. when you see the gains they're playing in congress right now, to suggest he could do this with deductions is not true. the math does not add up. the president has to stick to his guns in insuring that it is time for the wealthiest americans to help bail out from this mess. we have to make cuts. they have to be prudent. the president and vice-president do not believe the way to balance the budget is on the backs of the states. if they reduce the commitment to health care, medicare, medicaid and say we will reduce the reimbursement and shift the burden back to the states, the president knows that is not doing anything to achieve his goal of universal health care at a time when we are implementing the affordable care act. what you will see is a very balanced approach. i know the presence will not balance this budget on the backs of the most vulnerable americans. i think we have been too doom an
'll have a very high unemployment rate. if some tax increases to julian's point, only mild increases in unemployment rate. >> brenda: julian? >> lock, tok, the point was thaf obama was reelected, it was tank. when obama took office, everyone said the stimulus wod fail. 2.7. >> wh? >> 2.7 gdp right now, so gdp is probably. >> brenda. >> between positive 11, positive 12 swing. everyone keeps talking how the obama plan isn't going to work and it isn't going to work and the data seems to show the difference, which is to president clinton'point if you want to live like a republican, vote for a democrat, they'll give you better economics. >> brenda: gary b, go ahead. give your best. >> well, you know, julian's very good at raising the straw man. i don't recall everyone saying the market was going to tank if obama was reelected. to sate that oh, it didn't tank, that's kind of silly. the other thing, every time the tax rate habeenried to stick it to the rich. 91% tax rates during fdr years and failed misably and they've gone bacand ended up lowering the rate. it's such a good idea and look f
. president obama remains insistent that republicans yields to his ultimatum that he be allowed to raise taxes on those making more than $250,000 a year. republics for their part insist that the president gets serious about cuttng spending in order to reduce trillion doll deficits and a national debt that is now mind-boggling league not -- monotonous. house minority leader disrees vehemently with the speaker on how to reduce deficits and debt. today she offered a paradoxical statement on fiscal policy that wod make both casey stiegel and yogi berra proud. the nation now just 24 days away from $600 billion of spending cuts and tax increases that will automatically kicked in. and pelosi has so wise words for washington. please listen trror. >> this is a moment of truth. the clock is ticking. christmas is coming. the goose is getting fat. in many homes across america it is very, very lean times. you cannot cut your way to deficit reduction. lou: that's rigt. pelosi says we cannot get our way to deficit reduction. listen to the top democrat in the house of representatives, the former speaker of th
president obama need to call the debt deal a victory? raise the tax rate for the rich? that's at the top of the list but besides this and getting a deal done on time, what would really stuff the president's stocking, giving him a fresh start for his second term. shopping days, what would it take to make everyone happy or equally unhappy? a cut in government spending, a squeeze on medicare and medicaid. anything else? and finally hillary, clintons, both of them, global figures abroad, political superstars at home. to become in the four years, does she just have to wait? would anyone challenge her for the prize? could a hot new republican give her trouble, or cause her not to run? i'm chris matthews, welcome to the show. with us today, john harris, kelly o'donnell, michelle caruso-cabrera and david ignatius with "the washington post." first up, will president obama convince republicans to give him a compromise that's big enough, sweeping enough to end this month on a high note? to cap off his election win and get a clean start on his second term. a victory for the president would look like
arguments against president obama's plan is the $250,000 tax hike threshold could hurt small businesses. we hear that from all people who come on to talk about why they are opposed to it from the right wing that small business owners are going to be the ones hurt by this, the job creators. when we talk about them filing taxes as individuals and the real ones out there, what is your response to that? >> well, look. the people who lost this election are holding out for the top 2% and the people who won this election are fighting for the 98%. that is a vast majority of americans including small businesses. i think that a fairer tax rate could only benefit them. >> this is interesting. you put up a survey on your website asking if your constituents two questions. one, do you want to extend the tax rates for 98% of americans and 97% of businesses and raise rates for those making over $250,000. what have people been responding to you through the website? >> oh, the vast majority want a fairer tax rate as to what we had in the clinton tax years. we know that was a time of prosperity. we need to re
as we get closer to the new yearhen tax is actuay go up. john boehner knows this and obama knows this so we will not see the conontotours of a deal yet. but that does not mean that the absence of evidence is the evidence of absence. 9 >> i noticed thahat while being out for r a week with the the flu is that nothing changein t wes i was gone.e. nothing has changed in months. it is aithetical washington does. they don't get a any kind of acaction until the last possible minute and the binesss community y hates that. theyey want t to seeee some kind of stability or predictality. wawall street needs to figure out how damaging this is to play this game. >> washington will interpret wall street as washington sees fit. wall street can say whatever it wants and can send the market into a tailspin. there will be a rponse from a repupublican or democr that will paint that tailspin in their favor. it is not just about the numbers.s. it i not in n it -- is about more than $500 billion in tax cuts. it'ss about a veryragilele psychology for this country. we see constandysfunction. alan kruer a has sai
on a breakthrough. brian mooar has the latest from washington. >> president obama and house speaker john boehner were behind closed doors today trying to break the tax and spending stalemate recommended take the country over the fiscal cliff in three weeks. they want to about to the president's demand that taxes go up for the wealthy. >> will i accept a tax increase to actually solve our problems? yes. >> we have one house and that's it. this is in the democrats' hands. >> we agree on 98% of this, to me, i would just get it off the table also they don't worry about it. >> they agreed that visits are going up on the rich no matter what. >> you cannot generate enough revenue to have meaningful deficit reduction. >> republicans want a big spending cuts from programs like medicare and social security. >> we do not want to be here in another year or attend. >> on both sides of pennsylvania avenue, from main street to wall street, americans are waiting to see who will blink first. both are eager to wind down the crisis, but no one wants to walk away in defeat. , wbal-tv 11 news. >> an update on a form
's constitution is set for next week. >>> president obama is taking his message of mid-class tax cuts back on the road. he's heading to m tomorrow the plant is a uaw shop and it's expected to pull him into the debate over the union's and to organize workers. those are your top stories. "reliable sources" is up at the top of the hour but right now back to "fareed zakaria gps." >>> one out of two men will develop cancer in their lifetime. women are a little luckier. one out of three will get it. regards of your sex, those are terrifying numbers. but all of that could change because cures are inside. this is the president of the world's largest cancer center, m.d. anderson in houston, texas. >>> you believe we are at a point where we could actually cure cancer. >> i think we're at a major turning point in the history of cancer medicine where we have a very deep understanding of how it comes about and if it is established, how to deal with it. want and we have game-changing technological skranss that allow us to do much better care, cancer care of patients. >> what is the game-changing technol
. the skicliff is tax hikes cominn january 1st. it could send us back into recession. president obama and congressional republicans blocking a deal to avoid an economic catastrophe. marco rubio addressing the public says it does nothing to solve the long-term problem of a ballooning national debt. >> tax increases will not solve our debt only economic growth will help control the debt. house republicans have a democratic bill that already passed the senate. the republican alternative will not work. >> the senate has already done their part. now we are waiting for republicans in the house to do the same thing. but so far they have put forward an unbalanced plan that lowers the rates for the wealthiest americans. >> the tax hikes on americans. they say voters made it clear when he was elected. >> he is a democrat. former florida governor carlie fritz making it official after two years as an independent. he's seen as a candidate former challenger republican rick scott in 2014. we have a message for christ. bring it on. he was elected in 2006 but ran for senator after losing the republica
cliff. >> reporter: in his saturday weekly address, president obama signaled he is open to making cuts in programs like medicare and medicaid if republicans agree to raise tax rates for the rich. >> i'm willing to make more entitlement spending cuts on top of the $1 trillion in spending cuts i signed into law last year. >> reporter: his remarks came one day after house speaker boehner announced the talks were stalled. >> well, this isn't a progress report, because there's no progress to report. >> reporter: his democratic counterpart nancy pelosi blamed boehner for the stalemate. >> what they offered in return was an empty letter, lacking in specifics. >> reporter: such is the state of negotiations, 23 days before the deadline, when federal income tax will revert to higher levels, and long-term unemployment benefits will dry up for over two million americans who have been out of work for six months or more. on friday, boehner did not rule out a compromise on a tax hike for top earners, somewhere between today's 35% rate and the clinton era's 39.6%. >> there are a lot of things that are
raising rates, by doing it by eliminating deductions and exclusions, which is the more rational way. obama's, and debt reduction commission had recommended that you raise tens of revenue for the federal government, you do tax reform, and you actually lower rates while you expand the base, and the reason is that if you raise rates, you injure economic expansion, if you lower them, you exhilarated, and by making deductions, you make the tax system a more fair wind. you have the lawyers who work around the rates and and they have lobbies -- >> may i say -- >> no principle involved? >> i heard the july 2011 statement argument first ramesh lemmel. -- first from rush limbaugh. i think i heard it from drudge -- >> did you see it on tape? >> i know where it comes from and you repeated quite well. rates first?h bill clinton did who changed it again, george w. bush. they thought it made sense. it tried to change the composition by making it about revenue -- you unwatched people don't understand the difference between rates and revenue. >> bring us all together, please. >> with the number of lobbyist
. obama's on a debt reduction commission recommended that you raise tens of revenue with the fedel govovernment, you do tax reform and you actually lower rates while you e expand the base, and if you raisise rates, you e going to injure e economic expansion. if you lower them, youou accelerate it. by eliminating deductions, you make the tax system more fair one. it is the rich who have the lawyers who rk around the rates and have the lobbyis who create loopholes. >> no principle involved? >> mayay i explain -- i head the jujuly 2011 argument first from rush limbaugh. i think i also hea fro drudge -- >> did you see it on tape? >> i know when it comes from, and you r repted it quite well. on the question of rights the reason i came to this principle -- principle who did the first thing on rates? bill clinton? who changed the rates again? george bush. they try to change the conversation by talking about revenue, you poor unwatched people don't understand the difference between rates and revenues. >> nina, bring us altogether please >> with a number of lobobbyists and the super pacs mo
, in washington. >> reporter: in his saturday weekly address, president obama signaled he is open to making cuts on programs like medicare and medicaid if republicans agree to raise tax rates for the rich. >> i am willing to find way to bring down the cost of health care without hurting seniors and other american who is depend on it. i am willing to make more entitlement spending cuts on top of the $1 trillion in spending cuts i signed into law last year. >> his talks came after speaker of the house john boehner reported the talks are stalled. >> there is no progress to report. >> his democratic counterpart, pelosi, blames bangle they returned an -- blames boehner. >> they returned an empty letter lacking in specifics. >> federal income tax rates will go back up to the higher clinton era levels and long term unemployment benefits will dry up for over 2 million americans who have been out of work for six months or more. on friday bade boehner did not rule out a compromise on tax hikes for top earner, somewhere between 25% and the clinton era 36%. even if the two sides are making progress behin
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